Better Collective's Strategic Move: Acquires Tipsbladet.dk for €6.5m
Date: 2023-09-18 Author: Dima Zakharov Categories: SPORTS BETTING, EVENTS
Copenhagen-based affiliate, Better Collective, is making waves in the digital sports media world with its recent acquisition of Tipsbladet.dk. This strategic purchase aligns with the company's goal to become the leading digital sports media group.
Better Collective is set to acquire Tipsbladet for €6.5 million, with the deal structured as a cash and debt-free transaction. The payment will be made in three installments, financed by Better Collective's cash reserves.
The company is optimistic about the acquisition's impact, estimating that the 2024 EBITDA multiple, after synergies are realized, will be below 5x. Furthermore, Better Collective's financial targets for 2023 remain unchanged.
Tipsbladet, which originated as a printed magazine 75 years ago, has evolved into a digital platform covering football content. This purchase enhances Better Collective's presence in Denmark and strengthens its position as a key partner for advertisers in the Danish market.
Better Collective plans to leverage its technological and SEO expertise to boost the growth and development of Tipsbladet's football brand. Jesper Søgaard, the CEO of Better Collective, expressed his enthusiasm for the acquisition, emphasizing the potential to elevate the content that has captivated Danish sports fans for years.
For Henrik Stegger Nielsen, the former owner of Tipsbladet, the sale represents the successful culmination of his mission since 2007 to establish it as a healthy and sustainable business. He believes Better Collective is the ideal buyer to continue Tipsbladet's growth.
Allan Olsen, editor-in-chief at Tipsbladet, shares the excitement surrounding the acquisition. He sees Better Collective's involvement as a catalyst for expanding the brand's reach and delivering compelling football stories to a broader audience.
In addition to this acquisition, Better Collective recently acquired Brazilian sports media platform Torcedores.com, further solidifying its global presence in the digital sports media landscape.
Better Collective is set to acquire Tipsbladet for €6.5 million, with the deal structured as a cash and debt-free transaction. The payment will be made in three installments, financed by Better Collective's cash reserves.
The company is optimistic about the acquisition's impact, estimating that the 2024 EBITDA multiple, after synergies are realized, will be below 5x. Furthermore, Better Collective's financial targets for 2023 remain unchanged.
Tipsbladet, which originated as a printed magazine 75 years ago, has evolved into a digital platform covering football content. This purchase enhances Better Collective's presence in Denmark and strengthens its position as a key partner for advertisers in the Danish market.
Better Collective plans to leverage its technological and SEO expertise to boost the growth and development of Tipsbladet's football brand. Jesper Søgaard, the CEO of Better Collective, expressed his enthusiasm for the acquisition, emphasizing the potential to elevate the content that has captivated Danish sports fans for years.
For Henrik Stegger Nielsen, the former owner of Tipsbladet, the sale represents the successful culmination of his mission since 2007 to establish it as a healthy and sustainable business. He believes Better Collective is the ideal buyer to continue Tipsbladet's growth.
Allan Olsen, editor-in-chief at Tipsbladet, shares the excitement surrounding the acquisition. He sees Better Collective's involvement as a catalyst for expanding the brand's reach and delivering compelling football stories to a broader audience.
In addition to this acquisition, Better Collective recently acquired Brazilian sports media platform Torcedores.com, further solidifying its global presence in the digital sports media landscape.
